Public Employees Retirement System of Ohio Invests $3.70 Million in Weibo Co. (NASDAQ:WB)

Public Employees Retirement System of Ohio bought a new position in Weibo Co. (NASDAQ:WB - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 366,676 shares of the information services provider's stock, valued at approximately $3,696,000. Public Employees Retirement System of Ohio owned 0.16% of Weibo at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in Weibo during the second quarter valued at approximately $1,398,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Weibo by 60.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,199 shares of the information services provider's stock worth $2,845,000 after acquiring an additional 105,780 shares during the last quarter. Citigroup Inc. grew its position in shares of Weibo by 347.3% during the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider's stock valued at $6,077,000 after acquiring an additional 468,072 shares during the period. Polunin Capital Partners Ltd bought a new stake in shares of Weibo during the 3rd quarter valued at $5,064,000. Finally, Krane Funds Advisors LLC increased its stake in shares of Weibo by 17.4% in the 2nd quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider's stock worth $29,213,000 after purchasing an additional 564,068 shares in the last quarter. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WB. Citigroup increased their price objective on shares of Weibo from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. StockNews.com raised shares of Weibo from a "hold" rating to a "buy" rating in a report on Friday, December 6th. Morgan Stanley decreased their price target on Weibo from $8.00 to $7.50 and set an "underweight" rating on the stock in a report on Friday, August 23rd. Nomura Securities raised Weibo to a "hold" rating in a research note on Monday, August 26th. Finally, Benchmark reiterated a "hold" rating on shares of Weibo in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Weibo has an average rating of "Hold" and an average price target of $10.23.

Weibo Trading Down 3.2 %

Weibo stock traded down $0.33 during mid-day trading on Monday, hitting $10.03. The company's stock had a trading volume of 1,656,928 shares, compared to its average volume of 1,999,871. Weibo Co. has a one year low of $7.03 and a one year high of $12.40. The stock has a market cap of $2.35 billion, a PE ratio of 6.87 and a beta of 0.27. The company has a 50 day moving average of $9.38 and a 200-day moving average of $8.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute content in the People's Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.